Corebridge Financial Inc. Grows Stock Position in Ormat Technologies, Inc. (NYSE:ORA)

Corebridge Financial Inc. lifted its position in shares of Ormat Technologies, Inc. (NYSE:ORA) by 1.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 93,305 shares of the energy company’s stock after acquiring an additional 1,219 shares during the period. Corebridge Financial Inc.’s holdings in Ormat Technologies were worth $6,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in Ormat Technologies by 2.0% in the fourth quarter. Pacer Advisors Inc. now owns 8,026 shares of the energy company’s stock valued at $544,000 after buying an additional 160 shares in the last quarter. Bailard Inc. increased its stake in shares of Ormat Technologies by 0.9% in the 4th quarter. Bailard Inc. now owns 19,446 shares of the energy company’s stock valued at $1,317,000 after purchasing an additional 169 shares in the last quarter. Securian Asset Management Inc. raised its holdings in Ormat Technologies by 5.1% in the 4th quarter. Securian Asset Management Inc. now owns 4,354 shares of the energy company’s stock worth $295,000 after purchasing an additional 212 shares during the period. Versant Capital Management Inc boosted its position in Ormat Technologies by 132.4% during the fourth quarter. Versant Capital Management Inc now owns 402 shares of the energy company’s stock worth $27,000 after purchasing an additional 229 shares in the last quarter. Finally, Caprock Group LLC grew its holdings in Ormat Technologies by 4.0% in the fourth quarter. Caprock Group LLC now owns 6,080 shares of the energy company’s stock valued at $412,000 after purchasing an additional 235 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Ormat Technologies Stock Up 0.6 %

Shares of NYSE:ORA opened at $70.55 on Friday. The business has a 50-day moving average price of $67.59 and a 200 day moving average price of $72.84. Ormat Technologies, Inc. has a 12-month low of $59.41 and a 12-month high of $84.30. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 3.18 and a beta of 0.51.

Ormat Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 12th were issued a $0.12 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.68%. Ormat Technologies’s dividend payout ratio is currently 23.53%.

Insider Buying and Selling

In related news, Director David Granot sold 1,666 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $69.00, for a total transaction of $114,954.00. Following the completion of the transaction, the director now directly owns 1,910 shares in the company, valued at $131,790. This trade represents a 46.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessica Woelfel sold 409 shares of Ormat Technologies stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $72.15, for a total value of $29,509.35. Following the completion of the transaction, the insider now directly owns 6,094 shares of the company’s stock, valued at approximately $439,682.10. This represents a 6.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,242 shares of company stock valued at $156,427. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Ormat Technologies from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Baird R W raised shares of Ormat Technologies to a “hold” rating in a report on Thursday, March 13th. Jefferies Financial Group boosted their target price on shares of Ormat Technologies from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler began coverage on shares of Ormat Technologies in a research note on Thursday, December 19th. They issued a “neutral” rating and a $78.00 price target on the stock. Finally, Robert W. Baird assumed coverage on Ormat Technologies in a research note on Thursday, March 13th. They issued a “neutral” rating and a $81.00 price objective for the company. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $83.56.

Ormat Technologies Company Profile

Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.